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A. SUMMARY OF ADMINISTRATIVE PROCEDURE

This document explains the requirements for and purposes of the ×î¿ì¿ª½±Ö±²¥½ÁÖé½á¹û Equipment Inventory System. The System ensures management control of ×î¿ì¿ª½±Ö±²¥½ÁÖé½á¹û assets, including the acquisition, utilization, location, reporting, and disposal of equipment.

1. ?×î¿ì¿ª½±Ö±²¥½ÁÖé½á¹û Equipment Inventory System. ×î¿ì¿ª½±Ö±²¥½ÁÖé½á¹û uses the Banner Fixed Asset module of Banner Finance to maintain records on all capitalized ×î¿ì¿ª½±Ö±²¥½ÁÖé½á¹û equipment.

2. Why is a Equipment Inventory System Necessary? An Equipment Inventory System safeguards the physical assets of ×î¿ì¿ª½±Ö±²¥½ÁÖé½á¹û, assures compliance with federal regulations, and provides an auditable subsidiary ledger to the ×î¿ì¿ª½±Ö±²¥½ÁÖé½á¹û general ledger. Federal grant and contract regulations require that a structured equipment inventory be maintained and that available equipment be fully utilized before federal funds are spent on additional equipment purchases.

3. Responsibility.

a. The Property Control department of ×î¿ì¿ª½±Ö±²¥½ÁÖé½á¹û Financial Services is responsible for maintaining inventory records for all equipment.

b. The Principal Investigator (PI)/Project Director (for grant funded items), or assigned Equipment Custodian/Manager is required to inform ×î¿ì¿ª½±Ö±²¥½ÁÖé½á¹û Property Control of any changes to the status of equipment assets under their control in a timely manner.

B. DETAILED OPERATING PROCEDURE

1. Required Information: The following elements must be included in the Equipment Inventory System per federal guidelines.

a. Identification: Tag/Barcode number, description, model, manufacturer, serial number, or other identification number

b. Location: Campus, department, building, and room number

c. Award: Funding source (Banner fund/org), responsible person, grant code and name of project director or user

d. Acquisition and Use: Date acquired, condition, title to, purchase order number, invoice number, and/or related journal entry numbers.

e. Cost: Unit acquisition cost

f. Disposal: Date, reason, disposal method, sale price

2. Reconciliation. The Banner Fixed Assets files are reconciled regularly.

3. Reporting of Federally-Owned Equipment - STAR is responsible for the submission of annual inventory reports and other reports upon termination of grants and contracts of federally-owned equipment. STAR will communicate to the federal sponsor, title holder, or cognizant contracting officer all instances of loss, damage, or destruction of equipment.

4. Custodian Responsibilities - Equipment Custodians/Managers must inform ×î¿ì¿ª½±Ö±²¥½ÁÖé½á¹û Property Control of changes to the status of equipment, both as part of the inventory process and as part of normal operations, including:

a. Maintenance Information. It is the Equipment Custodian/Manager's responsibility to return warranty cards, conduct regular or periodic maintenance, such as lubrication, cleaning, or calibration and maintain records of deficiencies discovered as a result of inspections, as well as any maintenance actions.

b. Subrecipient responsibilities. The Principal Investigator or Program Director must advise sub-recipients of their responsibility to comply with ×î¿ì¿ª½±Ö±²¥½ÁÖé½á¹û equipment policies and procedures where applicable.

c. Physical Movement of Equipment. When equipment is loaned to non-×î¿ì¿ª½±Ö±²¥½ÁÖé½á¹û entities, sold or given by one department to another, or moved from one location to another within a department, a completed Equipment Location Form ×î¿ì¿ª½±Ö±²¥½ÁÖé½á¹û 11-010F must be sent to ×î¿ì¿ª½±Ö±²¥½ÁÖé½á¹û Property Control within 30 days following the move. In addition, custodians or equipment managers should report all instances of loss, damage, or destruction of equipment to ×î¿ì¿ª½±Ö±²¥½ÁÖé½á¹û Property Control, as soon as possible.

d. Title Transfer. When a grant or contract closes which has sponsor owned or titled equipment, the project director must notify STAR to request authorization from the sponsor to transfer ownership to ×î¿ì¿ª½±Ö±²¥½ÁÖé½á¹û.

e. Transfer of Equipment to Another Institution. Faculty members transferring to another institution must receive written approval from the Senior Vice Provost for Research at UNH or the campus finance office at the other campuses, and the sponsor as required, to transfer grant or contract funded equipment. To transfer equipment purchased with non-grant funds, written approval must be received from the campus VP for Finance. A copy of applicable approval, including the ×î¿ì¿ª½±Ö±²¥½ÁÖé½á¹û barcode #, the Banner PTAG #, and other applicable identifying and contact information, should be forwarded to ×î¿ì¿ª½±Ö±²¥½ÁÖé½á¹û Property Control.

f. Theft. In addition to completing the appropriate disposal documentation (see Section B.4.g. below), property which is stolen or vandalized must be immediately reported by the Equipment Custodian/Manager to the respective campus security office and to the ×î¿ì¿ª½±Ö±²¥½ÁÖé½á¹û Internal Audit Department.

UNH Campus Police*   603-862-1427
KSC Campus Safety  603-358-2228
PSU Campus Safety  603-535-2330
×î¿ì¿ª½±Ö±²¥½ÁÖé½á¹û Internal Audit Department  603-862-3500

* Includes off-campus buildings

g. Disposal. See ×î¿ì¿ª½±Ö±²¥½ÁÖé½á¹û Procedure 11-030: Disposal of Surplus Property.

h. Inventories. See ×î¿ì¿ª½±Ö±²¥½ÁÖé½á¹û Procedure 11-040: Inventory of Equipment.

5. Contacts

×î¿ì¿ª½±Ö±²¥½ÁÖé½á¹û Property Control

foc.accounting@usnh.edu
Accounting Manager, Telephone 603-862-3127